AgriGold issue rocks AP Assembly

Hyderabad: The financial irregularities committed by the AgriGold group of companies rocked the Legislative Assembly on Monday even as the government expressed its willingness to order a probe by the Central Bureau of Investigation for protecting the interests of gullible depositors who invested huge amounts in the company.

The issue, which figured under the short discussion in the Assembly in the afternoon, witnessed heated exchanges between the ruling Telugu Desam and the Opposition YSR Congress. While Leader of the Opposition Y.S. Jaganmohan Reddy alleged that the government was trying to dilute the issue by ordering a probe by the CID, the ruling party defended its action claiming that it was committed to delivering justice to the last of the depositors.

CBI probe sought

Mr. Jagan wanted the government to order a CBI probe as the ongoing CID probe was inadequate and there was pressure on the officials concerned to go slow. “The CID officials went ahead to tell the court that there was no need to arrest the promoters, exposing the pressure that is mounted on them,” he alleged.

The Opposition leader said while the government’s statistics quoted the magnitude of irregularity at Rs. 6,850 crore, it could be much more owing to the interest component on the deposits as well as the involvement of the associate firms of the AgriGold which went ahead to sell the properties in spite of the CID inquiry that was under way.

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